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    Turnkey Multifamily Investment Opportunity Title is generated by Realmo AI

    12926 Page Ct, Blue Island, IL 60406

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    Six-unit property in Blue Island with immediate rental upside.

    Type:Multifamily
    Property size:
    6,145 SF
    Price / SF:
    $87/SF
    Added:
    Mar 5, 2026
    Days on Market:
    77
    Last Refresh:
    Mar 16 at 2:47 pm

    Property Features for 12926 Page Ct

    General Information

    Standard status
    Active
    Size
    6,145 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Marcin Chojnacki

    Listing agent Marcin Chojnacki License #IL 471019141

    Listing office Citypoint Illinois LLC

    Listing date Mar 5, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Citypoint Illinois LLC

    HighLights

    • Turnkey 6‑unit multifamily property generating $81,792 in annual rental income
    • Immediate rental income upside of over $14,000 annually through market rent growth
    • Current cap rate of approximately 8% with potential to approach 10% at market rents
    • Mix of well‑maintained units with stable tenants and consistent occupancy
    • Convenient location near local shopping, transportation, and employment centers
    • Well‑documented operating expenses including property taxes, utilities, maintenance, and professional management

    Overview

    This six-unit multifamily property in Blue Island is an investment opportunity generating $81,792 in current annual rental income. The property features a mix of well-maintained units with stable tenants and consistent occupancy. The current cap rate is approximately 8% at the asking price. Average rents are currently $1,136 per unit, while comparable rentals in the area support rents closer to $1,325–$1,350, providing over $14,000 in potential annual rental upside through normal lease renewals and tenant turnover. Operating expenses include property taxes, utilities, maintenance, and professional management assumptions. At market rents, the property approaches a 10% cap rate. The property benefits from strong rental demand due to its convenient location near local shopping, transportation, and employment centers. The property size is 6,145 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Blue Island
    County
    Cook
    State
    Illinois
    Longitude
    -87.6633917
    Latitude
    41.6585102

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property in Blue Island with immediate rental upside.
    Where is this apartment building located?
    The property is located at 12926 Page Ct Blue Island, IL.
    What is the asking price?
    The asking price for this property is $539,900.
    What are key features of this property?
    This property features: Turnkey 6‑unit multifamily property generating $81,792 in annual rental income; Immediate rental income upside of over $14,000 annually through market rent growth; Current cap rate of approximately 8% with potential to approach 10% at market rents
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Marcin Chojnacki
    Real Estate License ID: IL 471019141
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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